Target

Banks to Finally Install Chips Into Credit Cards

Credit Card

Episode 1056

After the massive data breach at Target, Banks are finally planning to use the Chip and Pin technology, and will be done by October 2015. You'll be using your credit card, which will then ask you for a PIN. Leo says it's about time. While it won't completely prevent hackers from stealing credit cards, it will make it much harder. How will it affect online purchases? Leo says not much. Users will probably have to give some supporting information, but that's about it.

How to Protect Yourself After Target Credit Card Breach

Between November 27 and December 12 of 2013, Target stores company-wide were hacked, compromising up to 40 million credit cards. The breach does not include purchases made online with Target, only in its retail stores. If you've ever used your credit or debit card at Target in the United States, it's highly recommended that you get a new card and close your current account. Canada Target stores have not been breached, however, because of their requirements for a digital chip in the card itself and a PIN. Without these two factors, a transaction can't be made.

Retailers Refuse to Carry Beyonce's Latest Album After Exclusive Deal with iTunes

Episode 1041

Beyonce released a surprise album with great success on social media sites. Each song has an accompanying video, and there were tons of photos shared on Instagram as well. But since the album was sold exclusively on iTunes the first week, other retailers including Amazon, Target, and other retailers are now saying they won't carry it. Walmart will be carrying it, however, because Beyonce was shopping there for Blue Ivy. She also was giving 750 $50 gift cards to people at Walmart. The album sold 600,000 units in the US first 3 days and 820,000 worldwide.

How can I protect myself from the Target breach?

Episode 1041

Greg from Canoga Park, CA

Greg was one of the victims of the Target credit card compromise. Leo says he wants to know how he found out. He said he found a bunch of small charges on his Target Debit Card. Leo says he uses American Express and he gets a "physical card not used" alert every time an online purchase is made. That's a nice feature of AmEx. Leo says that if we as consumers start calling our banks asking for increased security measures, they may start implementing that more. Chase bank will send an email or text whenever the credit card is used, according to the chatroom.

Target Gets Hacked, 40 Million Credit Cards Taken

Episode 1041

Target says that between Black Friday and December 15th, point of sale registers were hacked company wide and over 40 million credit and debit cards were seized. Target hasn't really said much on what customers should do. Leo says that the safest thing to do is assume your card had been grabbed and notify your bank. You could spend the next year checking your statements, but Leo says to simply get a new card and close the other account. Leo also says that there was no breach in Target stores in Canada because they require both a chip in your credit card and a PIN.